HSN Code 71141110: Silver Articles of Goldsmiths or Silversmiths

HSN Code 71141110 represents Silver Articles of Goldsmiths or Silversmiths under GST classification. This code helps businesses identify Silver Articles of Goldsmiths or Silversmiths correctly for billing, taxation, and trade. With HSN Code 71141110, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Silver Articles of Goldsmiths or Silversmiths.

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Description of Goods for HSN Code 71141110

HSN Code 71141110 relates to the following description.

Description of Goods

Of precious metal, whether or not plated or clad with precious metal : Of silver, whether or not plated or clad with precious metal : Articles

Chapter

71 - Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin

Sub Chapter

7114 - Articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal

CGST

1.5%

SGST

1.5%

IGST

3%

CESS

0%

What does HSN Code 71141110 not include?

Silver Articles of Goldsmiths or Silversmiths does not include products with the following descriptions.

HSN Code 71141120

Of precious metal, whether or not plated or clad with precious metal : Of silver, whether or not plated or clad with precious metal : Parts

HSN Code 71141910

Of precious metal, whether or not plated or clad with precious metal : Of other precious metal, whether or not plated or clad with precious metal : Articles of gold

HSN Code 71141920

Of precious metal, whether or not plated or clad with precious metal : Of other precious metal, whether or not plated or clad with precious metal : Articles of platinum

HSN Code 71141930

Of precious metal, whether or not plated or clad with precious metal : Of other precious metal, whether or not plated or clad with precious metal : Parts

India’s Trade Performance — HSN Code 71141110 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

₹120 Cr

+9.56% vs FY 2023-24

0.0033% of India’s total exports

India’s Imports

FY 2024-25

₹47 Cr

+155.22% vs FY 2023-24

0.0008% of India’s total imports

Trade Balance

FY 2024-25

₹73 Cr

Trade Surplus

Surplus rank #1853 of 12657 HSN codes

% of Sub-Chapter 7114

FY 2024-25

76.06%

Share of Sub-Chapter 7114’s total exports in FY 2024-25

Import side: 56.95% of Sub-Chapter 7114’s imports

Rank Within Sub-Chapter 7114

FY 2024-25

#1 of 8

Position by export value among HSN codes in Sub-Chapter 7114

Import-side rank: #1 of 8

At a glance

17.53%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#2435

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+87.96%

Peak Growth Year

FY 2021-22 · strongest single-year move

76.06%

Contribution to Sub-Ch. 7114

Share of Sub-Chapter 7114 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 71141110

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #2990

Balance

+34.57

Exports

45.54 ₹ Cr

0.0020% share

— YoY

20.50% of Sub-Ch. 7114

Imports

10.97 ₹ Cr

0.0003% share

— YoY

7.60% of Sub-Ch. 7114

FY 2019-20 Exp. Rank #3216

Balance

+28.23

Exports

39.91 ₹ Cr

0.0018% share

−12.36% YoY

29.95% of Sub-Ch. 7114

Imports

11.68 ₹ Cr

0.0003% share

+6.47% YoY

15.26% of Sub-Ch. 7114

FY 2020-21 Exp. Rank #2686

Balance

+49.87

Exports

59.16 ₹ Cr

0.0028% share

+48.23% YoY

80.17% of Sub-Ch. 7114

Imports

9.29 ₹ Cr

0.0003% share

−20.46% YoY

52.37% of Sub-Ch. 7114

FY 2021-22 Exp. Rank #2261

Balance

+100.03

Exports

111.20 ₹ Cr

0.0035% share

+87.96% YoY

85.82% of Sub-Ch. 7114

Imports

11.17 ₹ Cr

0.0002% share

+20.24% YoY

44.17% of Sub-Ch. 7114

FY 2022-23 Exp. Rank #2368

Balance

+101.83

Exports

113.54 ₹ Cr

0.0031% share

+2.10% YoY

72.18% of Sub-Ch. 7114

Imports

11.71 ₹ Cr

0.0002% share

+4.83% YoY

2.27% of Sub-Ch. 7114

FY 2023-24 Exp. Rank #2459

Balance

+91.08

Exports

109.55 ₹ Cr

0.0030% share

−3.51% YoY

59.73% of Sub-Ch. 7114

Imports

18.47 ₹ Cr

0.0003% share

+57.73% YoY

44.71% of Sub-Ch. 7114

FY 2024-25 Exp. Rank #2435

Balance

+72.88

Exports

120.02 ₹ Cr

0.0033% share

+9.56% YoY

76.06% of Sub-Ch. 7114

Imports

47.14 ₹ Cr

0.0008% share

+155.22% YoY

56.95% of Sub-Ch. 7114

CAGR · 7-Year

Exports

17.53% /yr

Imports

27.51% /yr

Consistently Surplus
Sub-Chapter 7114 total

reference, FY 2024-25

Export

₹157.79 Cr

Import

₹82.78 Cr

Trade Balance

+75.01

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Code 71141110 Export-Import Analysis

Consistent Export Growth: 17.53% CAGR Over 7 Years

India's exports under HSN Code 71141110 have grown at a compound annual rate of 17.53% over 7 fiscal years, rising from ₹45.54 Crore in FY 2018-19 to ₹120.02 Crore in FY 2024-25.

HSN Code 71141110 Ranked #2435 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 71141110 ranks #2435 out of 12657 HSN codes by total export value. Within Sub-Chapter 7114, it ranks #1 of 8. By trade surplus, it ranks #1853 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 71141110 Exports

The strongest single-year export movement for HSN Code 71141110 was recorded in FY 2021-22, when exports surged by 87.96% over the prior year.

India Maintains a Trade Surplus of ₹72.88 Crore in HSN Code 71141110 Goods

In FY 2024-25, India's exports of ₹120.02 Cr exceeded imports of ₹47.14 Cr, resulting in a trade surplus of ₹72.88 Crore — ranking #1853 of 12657 by surplus magnitude.

Import Growth of 27.51% CAGR Signals Rising Demand for Silver Articles of Goldsmiths or Silversmiths

India's imports under HSN Code 71141110 have grown at 27.51% CAGR, reaching ₹47.14 Crore in FY 2024-25.

HSN Code 71141110 Contributes 76.06% of Sub-Chapter 7114 Exports — Ranked #1

Among the 8 HSN codes under Sub-Chapter 7114, HSN Code 71141110 ranks #1 by export value — accounting for 76.06% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 56.95% share (rank #1).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 71141110 and GST compliance.

What products are classified under HSN 71141110 ?

It includes Platinum Articles of Precious Metal

Do e‑way bill and e‑invoice apply for Silver Articles of Goldsmiths or Silversmiths?

e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.

Can we claim ITC on inputs used to trade Silver Articles of Goldsmiths or Silversmiths?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

How much GST applies to Silver Articles of Goldsmiths or Silversmiths?

Under HSN 71141110, Silver Articles of Goldsmiths or Silversmiths attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Does packaging or labelling change the GST for Silver Articles of Goldsmiths or Silversmiths?

For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading.

How should mixed supplies be billed when Silver Articles of Goldsmiths or Silversmiths is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Silver Articles of Goldsmiths or Silversmiths; Nil for exempt items if applicable).

Important Disclaimer

The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.